Last week, AirAsia’s logistics arm Teleport launched a blockchain-based air cargo network called Freightchain. The solution aims to ease the booking process for cargo space on AirAsia’s aircraft as well as other airlines.
Traditionally, shippers and freight forwarders would manually search for cargo transport networks that meet their supply chain needs. This would involve emails, phone calls, and lengthy communication with the airline to make space available for any cargo.
Using blockchain, Freightchain enables shippers and freight forwarders to view the airline network and make bookings in real-time. The solution uses a bidding process, allowing the shippers to opt for the cheapest plan or the fastest route to transport their cargo. The bids are validated using blockchain.
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